NIGERIA Blockchain revolutionizing traditional lottery in Nigeria 4 years ago Iwo Bulski Post Views: 964 The West African nation Nigeria is known for having the biggest economy and the most populous black Africa nation, estimated to be about 200 million Nigerian residents, mostly dominated by the youth, and also known for its long-term love affair with gambling. However, lottery in Nigeria is still the biggest in the country with the market share of 44% according to pricewatercoopers (PWC). In 2016 a joint statement by lottery operators as quoted said lottery worth $70 billion in 2016 only, roughly an average of 7.5 million naira is place on lottery daily, while SMS charge about 150 billion naira revenue is generated according to Nigeria regulatory commission (NLRC) 2016. Furthermore, lottery is any game open to the public or sector involving the sale of tickets or papers printed with numbers within a range of numbers, drawn in a lottery game that can yield the winner a cash or other prize of corresponding value. Lottery tickets can be sold by lottery operator to members of the Nigeria public directly. However, now is the time to build on the momentum of traditional Nigeria lottery markets and embrace advance technology to the lottery industry. Furthermore, Nigeria is no doubt one of the West African countries; blockchain technology is starting to take root. The lottery operators in the country is now embracing this innovative technology into the lottery segment so as to bring fairness to the lottery industry and to take the lottery segment to a greater height. However, early this year two lottery companies in Nigeria deployed blockchain technology into their gaming platforms, namely international lottery and gaming limited, which is popularly known as Naijalottery and Ikorne Games, known as bingo9ja so as to make their customers in the lottery segment to experience such innovative technology in the gaming industry. According to CEO and founder of Ikorne Games as quoted by Eni Eniola, the move is to make it easy and stress-free for customers to play from their homes using their blockchain enabled mobile application and blockchain deployed terminals with USSD codes. This move is to break the stigma attached to playing conventional lotteries in Nigeria. Written by Adeleye Awakan Associate Editor Africa’s leading B2B digital gaming magazine news portal with expertise in Marketing, Communications, PR, consultant on gaming. Contact: [email protected] About Post Author Iwo Bulski Issues related to the gambling business is engaged in more than 30 years. My empirical experience gives me the opportunity to present events and companies from this business with full knowledge and industry knowledge. See author's posts Iwo BulskiIssues related to the gambling business is engaged in more than 30 years. My empirical experience gives me the opportunity to present events and companies from this business with full knowledge and industry knowledge. Facebook Twitter LinkedIn Email Print Tags: bitcoin, blockchain, Lagos Continue Reading Previous BtoBet enters into a multi-channel contract with SureBet247Next Google to expand gambling advertising in US and beyond More Stories NIGERIA ONLINE Nigeria’s Economic Landscape and Forex Trading 1 day ago Szarlot BETTING NIGERIA Nigerian Bookmakers Strengthen Partnership with Gamble Alert 1 day ago Samuel BETTING NIGERIA The Dark Side of Virtual Betting 2 days ago Szarlot NIGERIA ONLINE Nigeria’s Battle With Online Betting 2 days ago Samuel BETTING NIGERIA How to Watch the African Cup of Nations? 2 days ago Samuel BETTING NIGERIA The innovative Melbetapk.com betting app 3 days ago Szarlot EXPERTS NIGERIA Naira maintains stability in crypto market as Nigerians digest Binance $4.3 billion settlement 1 week ago Samuel EXPERTS NIGERIA Uncategorized Lagos Gambling Regulator LSLGA Issues Ban On Unlicensed Gambling Sites 1 week ago Samuel EXPERTS NIGERIA Nigeria: 15 Years After, Supreme Court Hears Lottery Regulation Dispute March 13 1 week ago Szarlot EXPERTS NIGERIA How Lanre Gbajabiamila is Transforming the Lottery Industry 1 week ago Samuel BETTING NIGERIA 7 Companies Owned By Nigerian Gambling Magnate, Kessington Adebutu 1 week ago Szarlot BETTING NIGERIA Nigerians resort to gambling 2 weeks ago Samuel Leave a Reply Cancel replyYour email address will not be published. Required fields are marked *Comment * Name * Email * Website Save my name, email, and website in this browser for the next time I comment. Δ This site uses Akismet to reduce spam. Learn how your comment data is processed.